INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax benefit (expense) from continued operation for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):


	December 31, 2023		December 31, 2022		December 31, 2021
Current:
Federal tax expense	$	—	$	—	$	—
State tax expense	(24)		(9)		—
Deferred:
Federal tax benefit	10,214		5,313		—
State tax benefit	3,195		1,867		—
Total tax benefit	$	13,385	$	7,171	$	—

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation between the amount determined by applying the U.S. federal income tax rate of 21% to pretax income from continuing operations and income tax expense presented in the accompanying consolidated statements of operations was as follows for the years ended December 31, 2023, 2022, and 2021 (in thousands):


	December 31, 2023		December 31, 2022		December 31, 2021
Statutory tax on book income	$	(28,959)	$	(5,007)	$	(5,216)
Permanent differences	1,714		(293)		(574)
Change in derivative liability	—		—		2,382
Convertible Debt	4,736		—		—
Change in valuation allowance	12,743		325		7,930
PPP Loan Forgiveness	—		—		(887)
Non-Controlling Interest	102		(1,432)		(2,247)
State Income Tax Expense	(3,176)		(977)		(1,388)
Other	(545)		213		—
Income tax benefit	$	(13,385)	$	(7,171)	$	—

Schedule of Deferred Tax Assets and Liabilities

The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2023 and 2022 is presented below (in thousands):


	December 31, 2023		December 31, 2022
Deferred tax assets:
State net operating loss carry forwards	$	7,499	$	1,624
Accrued bonus and stock-based compensation	579		499
Basis of intangible assets	2,227		2,010
Bad debt/environmental reserve	698		771
Contribution carryover	77		75
Transaction costs	1,041		1,807

Deferred interest expense under section 163(j)	28,613		13,215
Right to use asset	41,861		25,766
Partnership income	—		450
Net operating loss carry forwards	33,240		17,160
Deferred tax assets related to discontinued operations	—		2,181
Less valuation allowance	(18,100)		(505)
Total deferred tax assets	$	97,735	$	65,053

	December 31, 2023		December 31, 2022
Deferred tax liabilities:


Basis of fixed assets	$	(55,693)	$	(21,393)
Discount on convertible note	(2,591)		(11,820)
Right of use liability	(41,233)		(25,129)
Derivative liability	—		(2,970)
Partnership income	(994)		(434)
Deferred tax liabilities related to discontinued operations	—		(809)
Total deferred tax liabilities	$	(100,511)	$	(62,555)

Net deferred tax assets (liabilities)	$	(2,776)	$	2,498